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British GP fate being discussed with F1 bosses

BRDC chief Derek Warwick believes there is too much will for a British Grand Prix at Silverstone for the event to not take place in the future.

The owners of the Silverstone race circuit the British Racing Drivers Club are considering activating their break clause with Formula One.

Silverstone has a contract in place with Formula One until 2026, however both the promoters and Formula One themselves are able to activate a break clause over the coming months.

If that were to be triggered, the final British Grand Prix at Silverstone would take place in 2019.

The reason behind the consideration is said to be the high hosting fees that the promoters have to pay Formula One to host the race.

The fees are so high that despite running a very successful event, the financial risks are still too great to commit towards.

Especially as its been reported that the current deal includes a 5% escalator fee which has seen costs rise to £17million for the 2017 British Grand Prix.

With an incoming new owner of Formula One in the form of Liberty Media and a sympathetic British government it would seem there is potential for new negotiations.

“I’ve just got a feeling…we can’t do without the British GP, we can’t do without Silverstone, some compromise will be made, either with Bernie [Ecclestone] or the new people who are taking over F1, which is Liberty. Warwick said at the Autosport International Show as quoted by Sky Sports.

“We’ve had meetings with Liberty and [F1 chairman] Chase Carey. He understands our dilemma and we understand he has to make money because that’s what these guys are doing, but I just feel there is light at the end of the tunnel.

“I think we will have a grand prix past 2019.”

“We’re talking to Liberty and even Bernie now is calling us and saying ‘let’s set up a meeting and talk about it’. We’re feeling very positive at the minute and there’s a lot of good things happening at Silverstone.”








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The Journalist

Writer: Red5 Mail feedback, articles or suggestions

Date:Tuesday January 17 2017

Time: 11:00AM

 

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